Question 1

Four principal types of corruption are discussed.Name all four and explain at least two.

Accepted Answer

Corruption involves an executive,manager

Question 2

Internal control systems are recommended but not required of firms subject to the Sarbanes-Oxley Act.

Accepted Answer

A) True 
 B)False

Question 3

Skimming involves

Accepted Answer

A) stealing cash from an organization before it is recorded 
B) stealing cash from an organization after it has been recorded 
C) manufacturing false purchase orders, receiving reports, and invoices 
D) paying a vendor twice for the same products and cashing the reimbursement check issued by the vendor 
A) stealing cash from an organization before it is recorded 
B) stealing cash from an organization after it has been recorded 
C) manufacturing false purchase orders, receiving reports, and invoices 
D) paying a vendor twice for the same products and cashing the reimbursement check issued by the vendor

Question 4

Identify to indicate whether each procedure is a preventive or detective control.
​

Accepted Answer

A.preventive; B.detective; C.p

Question 5

A computer operator was in a hurry and accidentally used the wrong master file to process a transaction file.As a result,the accounts receivable master file was erased.Which control would prevent this from happening?

Accepted Answer

A) header label check 
B) expiration date check 
C) version check 
D) validity check 
A) header label check 
B) expiration date check 
C) version check 
D) validity check

Question 6

Cash larceny involves stealing cash from an organization before it is recorded on the organization's books and records.

Accepted Answer

A) True 
 B)False

Question 7

Section 302 requires the management of public companies to assess and formally report on the effectiveness of their organization's internal controls.

Accepted Answer

A) True 
 B)False

Question 8

Approving a price reduction because goods are damaged is an example of __________________________.

Accepted Answer

specific a

Question 9

Which statement is not correct?

Accepted Answer

A) The goal of batch controls is to ensure that during processing transactions are not omitted. 
B) The goal of batch controls is to ensure that during processing transactions are not added. 
C) The goal of batch controls is to ensure that during processing transactions are free from clerical errors. 
D) The goal of batch controls is to ensure that during processing an audit trail is created. 
A) The goal of batch controls is to ensure that during processing transactions are not omitted. 
B) The goal of batch controls is to ensure that during processing transactions are not added. 
C) The goal of batch controls is to ensure that during processing transactions are free from clerical errors. 
D) The goal of batch controls is to ensure that during processing an audit trail is created.

Question 10

Preventive controls are passive techniques designed to reduce fraud.

Accepted Answer

A) True 
 B)False

Question 11

A clerk reorders 250 items when the inventory falls below 25 items.This is an example of __________________________.

Accepted Answer

general au

Question 12

For an action to be called fraudulent,all of the following conditions are required except

Accepted Answer

A) poor judgment 
B) Representation 
C) intent to deceive 
D) injury or loss 
A) poor judgment 
B) Representation 
C) intent to deceive 
D) injury or loss

Question 13

SAS 109 requires auditors to obtain an understanding of an organization's control environment.Discuss two techniques that may be used to obtain such understanding.

Accepted Answer

Auditors should assess the integrity of

Question 14

Explain input controls.

Accepted Answer

Input controls are programmed

Question 15

What is check tampering?

Accepted Answer

Check tampering involves forging or chan

Question 16

Computer programs are intellectual property.

Accepted Answer

A) True 
 B)False

Question 17

What are the five internal control components described in the COSO framework?

Accepted Answer

the control environment,risk a

Question 18

The ethical principle of informed consent suggests that the decision should be implemented so as to minimize all of the necessary risks and to avoid any unnecessary risks.

Accepted Answer

A) True 
 B)False

Question 19

Individuals who acquire some level of skill and knowledge in the field of computer ethics are involved in which level of computer ethics?

Accepted Answer

A) para computer ethics 
B) pop computer ethics 
C) theoretical computer ethics 
D) practical computer ethics 
A) para computer ethics 
B) pop computer ethics 
C) theoretical computer ethics 
D) practical computer ethics

Question 20

A run-to-run control is an example of an output control.

Accepted Answer

A) True 
 B)False

Four principal types of corruption are discussed.Name all four and explain at least two.

Internal control systems are recommended but not required of firms subject to the Sarbanes-Oxley Act.

Skimming involves

Identify to indicate whether each procedure is a preventive or detective control.

A computer operator was in a hurry and accidentally used the wrong master file to process a transaction file.As a result,the accounts receivable master file was erased.Which control would prevent this from happening?

Cash larceny involves stealing cash from an organization before it is recorded on the organization's books and records.

Section 302 requires the management of public companies to assess and formally report on the effectiveness of their organization's internal controls.

Approving a price reduction because goods are damaged is an example of __________________________.

Which statement is not correct?

Preventive controls are passive techniques designed to reduce fraud.

A clerk reorders 250 items when the inventory falls below 25 items.This is an example of __________________________.

For an action to be called fraudulent,all of the following conditions are required except

SAS 109 requires auditors to obtain an understanding of an organization's control environment.Discuss two techniques that may be used to obtain such understanding.

Explain input controls.

What is check tampering?

Computer programs are intellectual property.

What are the five internal control components described in the COSO framework?

The ethical principle of informed consent suggests that the decision should be implemented so as to minimize all of the necessary risks and to avoid any unnecessary risks.

Individuals who acquire some level of skill and knowledge in the field of computer ethics are involved in which level of computer ethics?

A run-to-run control is an example of an output control.

The Information System: an Accountants Perspective

Introduction to Transaction Processing

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Auditing It Controls Part I: Sarbanes-Oxley and It Governance

Auditing It Controls Part II: Security and Access

Auditing It Controls Part III: Systems Development, program Changes, and Application Auditing

Filters

Exam 3: Ethics,fraud,and Internal Control

Four principal types of corruption are discussed.Name all four and explain at least two.

Internal control systems are recommended but not required of firms subject to the Sarbanes-Oxley Act.

Skimming involves

Identify to indicate whether each procedure is a preventive or detective control. ​

A computer operator was in a hurry and accidentally used the wrong master file to process a transaction file.As a result,the accounts receivable master file was erased.Which control would prevent this from happening?

Cash larceny involves stealing cash from an organization before it is recorded on the organization's books and records.

Section 302 requires the management of public companies to assess and formally report on the effectiveness of their organization's internal controls.

Approving a price reduction because goods are damaged is an example of __________________________.

Which statement is not correct?

Preventive controls are passive techniques designed to reduce fraud.

A clerk reorders 250 items when the inventory falls below 25 items.This is an example of __________________________.

For an action to be called fraudulent,all of the following conditions are required except

SAS 109 requires auditors to obtain an understanding of an organization's control environment.Discuss two techniques that may be used to obtain such understanding.

Explain input controls.

What is check tampering?

Computer programs are intellectual property.

What are the five internal control components described in the COSO framework?

The ethical principle of informed consent suggests that the decision should be implemented so as to minimize all of the necessary risks and to avoid any unnecessary risks.

Individuals who acquire some level of skill and knowledge in the field of computer ethics are involved in which level of computer ethics?

A run-to-run control is an example of an output control.

The Information System: an Accountants Perspective

Introduction to Transaction Processing

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Auditing It Controls Part I: Sarbanes-Oxley and It Governance

Auditing It Controls Part II: Security and Access

Auditing It Controls Part III: Systems Development, program Changes, and Application Auditing

Filters

Identify to indicate whether each procedure is a preventive or detective control.